India's IPO scene set for $15-20 billion boom by 2026, says Citi
India is gearing up for $15-20 billion in IPOs in 2026, according to Citi.
That's a big leap from about ₹1.8 lakh crore (some sources put it at about ₹1.95 lakh crore) raised last year through major listings like Tata Capital and ICICI Prudential AMC.
What's driving this surge?
Citi says the 2026 IPO pipeline is its biggest ever, with tech, consumer, and healthcare companies leading the way—both Indian and international names are in the mix.
High valuations are pushing private equity firms and promoters to cash out, while foreign investors are also selling stakes.
Why does it matter?
There's growing excitement from everyday Indian investors—not just institutions—which is helping these IPOs succeed.
With possible RBI reforms on the horizon that could open the bond market to a broader set of issuers, including real estate, this momentum could get even stronger.